[nikolay]

All these virtual banks have one major issue - you can't deposit cash and some businesses do have cash income, unfortunately. Withdrawing cash given the ATM limits is also an issue. Not all cash is bad! I organize festivals and although we heavily advertise that we take credit cards, checks, etc., although it costs us money, 50% of the people still prefer to pay cash. And with these virtual banks, what do I do with it? Deposit it into my personal account and write a check for the same amount to the business?!

[ryanzan]

You would just convert the cash into a money order, and then deposit it that way. Alternatively, some of these digital banks (like BlueVine) actually do allow you to deposit cash. From BlueVine's website:

"Yes, you can deposit both cash and checks with your BlueVine Business Bank account. Deposit checks anywhere, anytime through our mobile app by taking a photo of your check and deposit cash at 90,000+ retail locations with our partnership with Green Dot. For a list of locations, visit https://www.attheregister.com/locations."

[nikolay]

This is what I found about Green Dot's cash deposit: "The most you can deposit to your account in cash is $2,999 in the aggregate in any day. You also may not deposit cash to your account at any time your account balance exceeds $2,999. We may, in our sole discretion, let you deposit more money to your account if you deposit by direct deposit or other methods."

Moneypak is even worse - $5.95 per $500 (max).

[nikolay]

Green Dot has limits and you it costs you a lot to deposit $10,000 - not to mention the hassle. I didn't know that you can you deposit a cashier's check via a mobile app! I will check that, thank you!

[ryanzan]

Yep should work just like a regular mobile check deposit